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Technology Stocks : e.Digital Corporation(EDIG) - Embedded Digital Technology
EDIG 0.00010000.0%Mar 20 5:00 PM EST
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To: Walter Morton who wrote (8370)11/5/1999 7:49:00 PM
From: bob  Read Replies (2) of 18366
 
From WEBNOIZE -

SanDisk Raising $291M for Technology Development
SanDisk Corp., which develops memory storage products for portable MP3 players, digital cameras and other consumer products, hopes through a common stock offering to raise over $290 million to fund a technology venture with Toshiba Corp.
SanDisk is offering 4.5 million shares of common stock priced at $68 per share in the U.S. and Canada, standing to net approximately $291.3 million. The lead underwriter for the offering is Morgan Stanley & Co.
SanDisk designs, develops and markets flash memory cards for portable audio players that facilitate playback of up to two hours of near-CD quality music. Its technology is supported by devices from e.Digital, Pontis Electronic and RCA.
In addition to general corporate purposes, SanDisk intends to use the proceeds for a technology development joint venture with Toshiba.
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